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Showing 1 - 8 of 8 results for "Offset accounts"

Super balances drive household wealth growth

ELIZA BAVIN  |  THURSDAY, 19 DEC 2024
... spending. The ABS said this resulted in notable growth in transferable deposit balances particularly in mortgage offset accounts. Total demand for credit was $113.3 billion, driven by private non-financial businesses ($44.7 billion), general government ...

Qantas Super standardises offset account investments

ANDREW MCKEAN  |  WEDNESDAY, 6 NOV 2024
Qantas Super is changing the way most offset accounts are treated for members in its defined benefit (DB) divisions. The corporate fund, which is set to merge with Australian Retirement Trust (ART) in the first half of 2025, will have current and new ...

Pandemic-era savings to dry up: CBA

ELIZA BAVIN  |  FRIDAY, 9 AUG 2024
... as a collective, do not want to drill down on these savings. Indeed, households are still adding to redraw and offset accounts. This is a dynamic we anticipated," he said. "The large increase in the average outstanding mortgage rate due to RBA interest ...

Recession risk for Australia minimal: Forum

KARREN VERGARA  |  TUESDAY, 14 FEB 2023
... added. Furthermore, these households are cashed-up, with some $280 billion sitting in savings and $110 billion in offset accounts. The lower income group on the other hand might be feeling the pinch. Household savings for low-income earners fell materially ...

Top investment products, super fund revealed

STAFF WRITER  |  THURSDAY, 2 DEC 2021
... establishment fee and a 100% offset account, redraw and unlimited extra repayments. Macquarie has a rate of 2.52% with 10 offset accounts and a linked debit account. Freedom Lend moved up in the non-bank category from second place last year with a rate ...

ME Bank saga could impact super funds

ELIZABETH MCARTHUR  |  THURSDAY, 7 MAY 2020
... thought they had a very vanilla, ordinary lending feature." That said, Robertson prefers to see his clients have offset accounts. Where a redraw balance means that as you pay down your loan the bank allows you to draw a portion of that back out again ...

NAB refunds home loan customers

KARREN VERGARA  |  TUESDAY, 19 DEC 2017
NAB refunded $1.7 million to home loan customers after it failed to properly set up mortgage offset accounts, according to ASIC. Customer complaints prompted NAB to conduct an internal review, which found the bank failed to link offset accounts to broker ...

Low rates force banks to change term deposit strategy

LAURA MILLAN  |  THURSDAY, 12 JUN 2014
... interest/reward saver accounts with an increase of over seven hundred thousand customers in the last year and mortgage offset accounts showing an increase of over one hundred and eighty thousand customers, provides real alternatives for many customers. ...
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